Bolton Wanderers will remain in the EFL after last-minute sale

Image source, Press Association

Bolton Wanderers FC has been sold to Football Ventures (Whites) Limited.

The club's money troubles meant it could have faced the same fate as Bury FC - who were recently expelled from the English Football League.

But it was announced on social media, that the sale of the club had been completed.

It's after the proposed takeover by the company appeared to have collapsed on Saturday.

Image source, Twitter/@OfficialBWFC

If a company can't pay off its debts or borrow any more money, a special team called administrators may be brought in to take over and sort out its money troubles.

This happened with Bolton back in May when they entered administration because they couldn't manage their debts.

Bolton's Joint Administrator, Paul Appleton, has now said: "I'm delighted to say we have finally reached a satisfactory conclusion with the sale to Football Ventures.

"Of course, there will be difficult times ahead while the club gets back on its feet but there are too many people with Bolton close to their hearts for it not to be successful once more.

"Now there can be a fresh start with owners who, I believe, will run the club for the good of the supporters and the community as a whole."